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Sochi port construction completes

Work on construction of the RUB6bn (£118M) Imeretinskiy cargo port in Sochi has been completed by contractor Transstroy, it was announced by the firm’s parent company Basic Element yesterday.

The port, which has a capacity of 5Mt of cargo a year and docks of up to 9.2m in depth, will serve to deliver cargo and construction materials to  Imeretinskaya Valley, where most construction sites for the 2014 Sochi Winter Olympic Games are located. The launch of the port will open the shortest track for the cargo delivery to the area. After the Winter Olympics, the port will be retrofitted into a yacht marina.

The port is the only one to have been built under a public private partnership in Russia and construction had to overcome challenges posed by the complicated tidal and seismic environment, thanks to its constriction on the Black Sea coast near underwater canyons.

The project developer is the Port Sochi Imeretinskiy. The port maintenance is provided by Imeretinskaya Stevedore Company. Both companies are part of Basic Element.

The retrofitting of the port will begin after the end of the 2014 Sochi Olympics. It is estimated that marina capacity will reach 600-700 boats. Approximate investment into the port retrofitting is estimated at £40M to £80M, depending on the design plan which is currently under development.

The marina will be located near the Olympic Village, which is currently being built by Glavstroy (a part of Basic Element). After the Winter Olympics, this property will become part of the Sochnoe year-round resort complex.

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